-
Regime: Risk-on, fueled by dovish central bank pivots and a weaker DXY (98.33), as global yields decline. Today’s market themes: Dovish repricing of global central bank outlooks, with focus on BoE and ECB. USD weakness amplified by potential intervention risks in USD/JPY, testing multi-decade highs. Geopolitical tensions (US-Iran) continue to underpin…
-
Where we are: The DXY is currently trading at 98.33, down 0.39% on the day, with an intraday range of 98.07-98.97. This is a clear break lower from yesterday’s close around 98.73, and the DXY is testing the bottom of its recent range. The overnight weakness in US yields is weighing…
-
Where we are: S&P 500 futures are trading at 7198.75, up 0.65% and testing the overnight high of 7211.25. This move puts futures well above yesterday’s cash close of 7136.00 and suggests a strong open for the New York session. The market is attempting to consolidate gains above the psychological 7200…
-
Where we are: Gold (COMEX) is currently trading at 4646.7, up 92.0 points or 2.02% on the day, having traded in a range of 4550.9 to 4658.3. This rally marks a significant rebound from one-month lows and positions the metal well above yesterday’s close. The move is occurring despite a backdrop…
-
Where we are: EUR/USD currently trades at 1.1694, up 0.15% on the session and bouncing from an overnight low of 1.1656. The pair is testing the upper end of its intraday range (1.1656-1.1719), with the prior NY close representing initial resistance. A sustained break above 1.1719 would open the door to…
-
Where we are: Nasdaq 100 futures currently trade at 27481.25, up 0.97% on the session, pushing towards the intraday high of 27621.00. This level is well above yesterday’s cash close of 24673.24, indicating a strong overnight bid. The technical picture suggests a potential test of the 27,500 level, with support around…
-
Where we are: GBP/USD is currently trading at 1.3515, up 0.31% on the day, having traded in a range of 1.3454 to 1.3535. The pair is consolidating gains after the Bank of England’s rate decision, and trading above yesterday’s New York close. Intraday momentum remains positive, but the pair faces resistance…
-
Where we are: USD/JPY is currently trading at 156.84, down a massive 2.21% on the day after trading as high as 160.72 earlier. This constitutes the Yen’s largest rally since late 2022. The pair has carved out a wide intraday range, well below yesterday’s close, with traders assessing the risk of…
-
Where we are: Dow futures are currently trading at 49328, up 545 points or 1.12% on the day, having printed a high of 49405. This compares to yesterday’s cash close of 48862 and positions the index firmly in positive territory ahead of the cash open. The overnight range has been 48608-49405,…
-
Where we are: USD/CAD is currently trading at 1.3671, down marginally by 0.09% on the day. The pair has been confined to a tight intraday range of 1.3647-1.3689, little changed from yesterday’s close after failing to break significantly in either direction overnight. What’s driving it: The Bank of Canada’s cautious stance…
-
Where we are: Bitcoin is currently trading at $76,265, up $361 or 0.48% on the day. The intraday range has been relatively contained between $75,279 and $76,412. This level represents a modest recovery above yesterday’s NY close after a soft start to the week. What’s driving it: The immediate driver is…
-
Where we are: The FTSE 100 is currently trading at 22440, up 282 points or 1.27% on the day, testing the upper end of its intraday range of 22135-22468. The index is building on gains seen in the EU session, fuelled by broad risk-on sentiment. It is significantly above yesterday’s close,…
-
Snapshot: AUD/USD trades at 0.7151, up 0.50%, propelled by a 0.84% surge in copper prices. The RBA’s reluctance to commit to a cut path, citing uneven inflation progress, remains the dominant driver. US Advance GDP and Core PCE data at 08:30 ET are the session’s key risk event. Watch for resistance…
-
Snapshot: WTI crude is trading at $105.37, down 2.75% on the session, driven by concerns surrounding weaker US GDP growth as markets brace for the 08:30 ET data dump. The Fed’s recent FOMC statement offered little in the way of fresh catalysts. Watch for follow-through selling if Advance GDP q/q prints…
-
Snapshot: The Nikkei 225 is currently trading at 59285, down 0.34% on the session, pressured by a modest rise in domestic JGB yields. The upcoming Tokyo Core CPI release at 08:30 JST will be closely watched for further clues on the BoJ’s policy outlook. Watch JGB 10Y yield; a break above…
